The scheme, for the Western Docks at the Port of Dover in Kent, would safeguard another 140 positions through the development of a new cargo terminal.

Dover Harbour Board said its plan would revive the Western Docks, protect long-term port capacity and enable the transformation of the waterfront with the potential creation of a new marina.

Dover District Council’s leader Paul Watkins said the scheme would “deliver jobs and opportunities now while creating a catalyst for major regeneration” and would significantly boost the region as well as showing “real commitment to Dover.”

The port would be able to ensure the essential infrastructure was in place to serve customers in the years ahead with the additional opportunity to increase ferry berth capacity in the Eastern Docks through the transfer of the cargo operation to the west.

Dover Harbour Board chairman George Jenkins said: “Transforming this part of the port estate can in turn support the wider transformation agenda, one which sees the port and town working together, which the Port of Dover is also championing through its Dover waterfront regeneration project with Dover District Council.

“The people of Dover have waited long enough for Dover’s revival. That revival could start right now, breathing new life into our port and into our community.”